New York City, New York Jun 30, 2021 (Issuewire.com) - According to the latest report by IMARC Group, titled "Faucet Market Share: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," provide the global faucet market reached a value of US$ 22.08 Billion in 2020 and expects the market to grow at a CAGR of 9.3% during 2021-2026. The report provides a detailed analysis of the market by type, application, technology, materials, distribution channel, and end-user. Also, the report analyzes the market’s competitive landscape.
Report Metric
Historical: 2015-2020
Base Year: 2020
Forecast Year: 2021-2026
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Faucet Market Industry Definition and Application:
A faucet is a plumbing fixture that regulates the flow of liquid from a pipe or opening or closing a tap. It is made with brass, die-cast zinc, steel, and chrome-plated plastic. Nowadays, a faucet is available in different colors, styles, and finishing that can be customized according to user requirements.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Faucet Market Trends and Drivers:
The construction of modernized bathrooms primarily drives the global faucet market. Due to this, several manufacturers are focusing on developing advanced technology-driven plumbing fixtures. For instance, they are introducing digital and hybrid faucets that are smart, touch-free. and designed with scratch and tarnish-resistant surfaces. With the inflating income levels and improving living standards, consumers are willing to spend more on luxurious, esthetically appealing, and ergonomically designed faucets. Moreover, rapid urbanization and rising household units have led to an escalated demand for advanced sanitary fittings like faucets. On account of these factors, the market is anticipated to exhibit positive growth in the coming years.
Faucet Market Segmentation:
The report has segmented the market on the basis of type, application, technology, materials, distribution channel, and end-user.
Breakup by Type:
- One Hand Mixer
- Two-Hand Mixer
- Others
Breakup by Application:
- Bathroom
- Kitchen
- Others
Breakup by Technology:
- Cartridge
- Compression
- Ceramic Disc
- Ball
Breakup by Materials:
- Metal
- Plastics
Breakup by Distribution Channel:
- Online
- Offline
Breakup by End User:
- Residential
- Commercial
- Industrial
Breakup by Region:
- North America:( United States, Canada)
- Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- The Middle East and Africa
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Who are the Major Faucet Market Key players?
The report provides a detailed analysis of the market leaders, including.
American Standard Brands (Lixil Group), Colston Bath, Delta Faucet Company (Masco Corporation), Franke Holding AG (Artemis Holding AG), Gerber Plumbing Fixtures LLC (Globe Union Group Inc.), Grohe America Inc., Jaquar, Kohler Co., Moen Incorporated (Fortune Brands Home & Security Inc.), Toto Ltd. and Villeroy & Boch Aktiengesellschaft.
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